$CL - Outer Range

3 Apr 2023

CL is fast becoming one of my favorite instruments to trade. The ranges are wide, the money is good, and it's easily manipulated.

With price gapping up on the market open back near the 2023 range high on the daily chart, I'm looking for places to get short. The monthly is still in a downtrend and has some big wicks down south that will act as tractor beams. I still want to see further testing of resistance. However, I have started my short campaign with limit orders triggered at resistance.

I'm already seeing people calling for $300 oil. 🙄 That's the same kind of emotionally charged commentary that always appears around the highs and lows. Whether it's coming from a "trusted" news outlet or Joe Shmoe, it's just a tool the manipulators use to get the herd on the wrong side. The same thing happened when it hit $147 and $129. Shock and awe baby!

Remember, keep your risk low and manage your trades.

Plan. Execute. Next.
Trade Less. Make More.